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The organisation produces their product in their home market and then sells them to customers overseas. The organisations sells their product to a third party who then sells it on within the foreign market. Another of form on market entry in an overseas market which involves the exchange of ideas is contracting.
The ultimate decision to sell abroad is the decision to establish a manufacturing plant in the host country.
To share the risk of market entry into a foreign market, two organisations may come together to form a company to operate in the host country.
Basic marketing concepts tell us that we will sell more of a product if we aim to meet the needs of our target market. The arguments for standardisation state that the process of adapting the product to local markets does little more than add to the overall cost of producing the product and weakens the brand on the global scale. As you can see both strategies; using a standard product and an customised product can work just as well.
As with international product decisions an organisation can either adapt or standardise their promotional strategy and message. Before designing promotional activity for a foreign market it would be expedient to complete a PEST analysis so that you have a complete understanding of the factors operating in the foreign market you would like to enter. The internet has created further challenges as customers can view global prices and purchase items from around the world. The Place element of the marketing mix is about distributing a product or service to the customer, at the right place and at the right time.
Prior to designing an international marketing mix a business should carry out a PEST analysis for every country they would like to operate in. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising.
Clipping is a handy way to collect and organize the most important slides from a presentation. The business should carry out a full assessment of the likely costs of entering the selected market.
What deadline has the business set for securing a profitable return from entering the market? What does the organisation wish to achieve in the long term by operating in the foreign market?
Research and development for product development and modification is necessary both for international marketing and domestic marketing. Prepared for student presentation on Marketing Management CourseExtending Marketing - International Marketing -Rajendra Bahadur Thapa Student, Master of Science in Technology and Innovation Management, IOE, Pulchowk Campus. Deciding which markets to enter • Company should define its marketing objectives and policies. The most appropriate method will depend on the business, its products, the outcome of its Marketing Environment analysis and its Marketing Plan. Here the Licensor will grant an organisation in the foreign market a license to produce the product, use the brand name etc in return that they will receive a royalty payment.
The manufacturer of the product will contract out the production of the product to another organisation to produce the product on their behalf. The government of the host country may give the organisation some form of tax advantage because they wish to attract inward investment to help create employment for their economy.
The two companies may share knowledge and expertise to assist them in the development of company, of course profits will have to be shared between the two firms.

This article talks you through each element of the marketing mix and the arguments for and against adapting it suit each foreign market. In international markets this will involve taking into consideration a number of different factors including consumer's cultural backgrounds, religion, buying habits and levels of personal disposable income. In today’s global world, where consumers travel more, watch satellite television, communicate and shop internationally over the internet, the world is a smaller than it used to be.
The right approach for each organisation will depend on their product, strength of the brand and the foreign market that the marketing is aimed at. Advertising messages in countries may have to be adapted because of language, political climate, cultural attitudes and religious practices. This has increased the level of competition and with it pricing pressures, as global competitors may have lower operating costs. Distribution in national markets such as the United Kingdom will probably involve goods being moved in a chain from the manufacturer to wholesalers and onto retailers for consumers to buy from.
This will help them determine what elements of the marketing mix can be standardised and which elements will need adjustments to suit local needs.
Due to country specific laws, rules and regulations it will take longer to (obtain the necessary permits and permissions and) set up in some countries compared to others.
Otherwise the business could end up losing money and affecting its current business set up. As discussed above some countries may have rules and regulations that make it difficult to enter that market. Political relations between the country that the business is based in and the one the business would like to enter, may affect what the business can do in the selected market. If there are pressures to break even and return a profit within a certain period the business needs to carefully consider their decision to trade globally, as international trade is unpredictable. Does the long term plan involve establishing a presence in one market and then moving onto others? Domestic Marketing• There are a number of similarities and differences between international and domestic marketing.• Both in domestic marketing and international marketing success depend upon satisfying the basic requirements of consumers.
However, there are some salient features of difference between international marketing and domestic marketing.
Different Legal Systems: Each country has its own legal system and it differs from country to country.
Cultural Differences In domestic marketing there is only one nation, same language and culture where as at international marketing many languages and different cultures.4.
Differences in the Marketing infrastructure: The availability of the marketing facilities available in different countries may vary widely. Economic Environment – Industrial Structure shapes its product and service needs, income levels and employment levels.a. Political-Legal Environment – Factors like countries attitude toward international buying, government bureaucracy, political stability and monetary regulations.India tended to bother foreign businesses with import quotas, currency restrictions, etcSingapore and Thailand court foreign investors with incentives and favorable operating conditions. The Franchise holder may help out by providing training and marketing the services or product. In an overseas market there will be more parties involved because the goods need to be moved around a foreign market where business practices will be different to national markets.
It may well be that a business is able to use a standard marketing mix in the majority of cases and only need to adjust it on the rare occasion. You can send these slides to your personal contacts who might be interested in Business Diagrams. Conversely if the decision to trade in an overseas country is unsuccessful the business need to be able to leave quickly and limit business losses.

For example the country you wish to enter may have international trading sanctions against it. If the market is already very competitive this will make it difficult to obtain a profitable market share. A long term plan will help the business establish its strategy and ensure that it grows at a sustainable pace.
This necessarily involves finding out what the buyers want and meeting their needs accordingly• It is necessary to build goodwill both in the domestic market and international market. The existence of different legal systems makes the task of businessmen more difficult as they are not sure as to which particular system will apply to their transactions. Different Monetary Systems: Each country has its own monetary system and the exchange value of each countrys currency is different from that of the other. For example, an advertisement medium very effective in one market may not be available or may be under developed in another market.6. Procedures and Documentations: Each country has its own procedures and documentary requirements and traders have to comply with these regulations if they want to export or import goods from foreign countries. Stability in Business Environment: In domestic marketing there is relatively stable business environment. World is Shrinking rapidly with the advent of faster communication, transportation and financial flows.No Need to Surprise to hear!!! McDonalds is a popular example of a Franchising option for expanding in international markets. Brands such as MTV, Nike, Levis are all successful global brands where they have a standardised approach to their marketing mix, all these products are targeted at similar groups globally.
Every aspect of promotional detail will require research and planning one example is the use of colour; red is lucky in China and worm by brides in India, whilst white is worn by mourners in India and China and brides in the United Kingdom. For example in Japan there are approximately five different types of wholesaler involved in the distribution chain.
If a firm is able to develop goodwill of consumers or customers, its tasks will be simpler than the one, which has not been able to do so.
Sovereign Political Entities: Each country has is a sovereign political entity and goods and services had to move across national boundaries.
In the case of domestic marketing the buyers are aware of the legal systems in their country. Trade Restrictions:Trade restrictions, particularly import controls are a very important problem which an international marketer faces.
A Nepali Businessman wearing an Italian suit meeting an English friend at a Japanese restaurant returns home at Vienna in BMW car to drink Russian vodka and watch American Idol in LG TV. In India where a cow is a sacred animal their burgers contain chicken or fish instead of beef. Many organisation adapt promotion strategies to suit local markets as cultural backgrounds and practices affect what appeals to consumers.
Businesses will need to investigate distribution chains for each country they would like to operate in. They will also need to investigate who they would like to sell their products and services to businesses, retailers, wholesaler or directly to consumers. The distribution strategy for each country a business operates in could be different due to profit margins and transportation costs.

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